With all the changes in the housing market recently, you might be wondering if it’s a good time to sell your house. Here are some common questions you might have, along with answers to help you make a decision you feel good about.
1. Is There Demand for My House?
If you’re worried there won’t be a lot of buyer demand this spring, don’t be. Mortgage rates have trended down since last fall and that’s led more buyers to re-enter the market. That means there’s still plenty of demand today — and that demand may get even stronger if mortgage rates keep falling. So, you may still see buyers competing over your house this spring.
2. Is It Worth It To Sell Now?
The supply of homes for sale is still low, so we’re still in a seller’s market right now (see graph below). With more buyers than homes today, they crave more options, and your house will stand out. And though still low, inventory has grown a little bit recently, which means you may have more options for your own home search. The graph below puts today’s inventory into perspective.
3. Are Home Prices Going Down?
Put simply, they are not. Recent data shows home prices are still on the rise in many parts of the country. And while prices vary by market, experts project they’ll continue to rise at a more moderate pace in the years ahead. So, with prices appreciating today, you can still sell with confidence this spring.
read more…Click here to download the complete Home Sellers Guide Spring 2024
